The European Union agreed early Wednesday morning to implement a trade deal with the United States.

Axar.az informs, citing European Council's official website, today, the Council presidency and the European Parliament reached a provisional agreement on two regulations aimed at implementing the tariff-related aspects of the EU-US Joint Statement, agreed on 21 August 2025.

The agreement marks an important step in delivering on the commitments undertaken in the EU-US Joint Statement. It aims at enhancing a stable and predictable transatlantic trade relationship, while ensuring robust safeguards and preserving flexibility to be able to protect the EU’s economic interests, if needed.

The Joint Statement is expected to serve as a platform to continue engaging with the US to lower tariffs and cooperate closely on shared challenges.

The first (main) regulation eliminates remaining customs duties on US industrial goods and grants preferential market access including via tariff rate quotas (TRQs) and reduced tariffs for certain US seafood and non-sensitive agricultural products. The second regulation focuses on extending the duty suspension for imports of lobster, including processed lobster.

Under the agreement, the European Union will remove tariffs on U.S. industrial products and certain agricultural goods, while the United States will limit tariffs on most European exports to 15 percent.